TRUMP token bounces back triumphantly following Donald Trump’s guilty verdict

The meme coin associated with United States presidential candidate Donald Trump has made a recovery after experiencing a 16% drop following his conviction on 34 felony counts related to falsifying business records. The case involves Trump hiding a payment to adult entertainment star Stormy Daniels, and sentencing will now take place. Despite the guilty verdict, Trump maintains his innocence and criticized the trial as being corrupt. The news caused over $130 million to be wiped from the market cap of the MAGA (TRUMP) token, but the price quickly bounced back and is now close to regaining its 24-hour peak. Similar falls were seen in the Super Trump (STRUMP) and Baby Trump (BABYTRUMP) coins, although they didn’t recover as much as TRUMP. On the other hand, the Jeo Boden (BODEN) memecoin linked to Trump’s political rival, Joe Biden, initially saw a 6.4% increase before dropping to an even lower price than before Trump’s conviction. Despite this, gamblers on the prediction market Polymarket still expect Trump to win the upcoming election. As for Trump’s court case, sentencing will be determined by Judge Juan Merchan, and it is expected that both sides will present arguments for their preferred punishment. The verdict is likely to further divide the country in the lead-up to the November election. Trump has been actively trying to gain support from the cryptocurrency industry and has expressed his support for self-custody of Bitcoin and other coins. He has also engaged with the NFT community and promised to keep the industry within the country if elected.